Raymond James Financial Services Advisors Inc. Grows Stock Holdings in nLIGHT, Inc. (NASDAQ:LASR)

Raymond James Financial Services Advisors Inc. raised its position in shares of nLIGHT, Inc. (NASDAQ:LASR – Get Rating) by 38.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 122,306 shares of the company’s stock after buying an additional 34,176 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in nLIGHT were worth $1,156,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of LASR. Needham Investment Management LLC boosted its position in shares of nLIGHT by 64.6% during the second quarter. Needham Investment Management LLC now owns 725,000 shares of the company’s stock worth $7,410,000 after buying an additional 284,500 shares during the period. Rice Hall James & Associates LLC purchased a new position in nLIGHT in the second quarter valued at $2,601,000. Clearbridge Investments LLC boosted its holdings in nLIGHT by 17.5% in the first quarter. Clearbridge Investments LLC now owns 1,655,521 shares of the company’s stock valued at $28,707,000 after purchasing an additional 246,869 shares during the period. S Squared Technology LLC purchased a new position in nLIGHT in the first quarter valued at $4,035,000. Finally, AWM Investment Company Inc. boosted its holdings in nLIGHT by 89.4% in the second quarter. AWM Investment Company Inc. now owns 492,433 shares of the company’s stock valued at $5,033,000 after purchasing an additional 232,433 shares during the period. 86.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on LASR shares. Raymond James decreased their target price on nLIGHT from $40.00 to $30.00 in a report on Sunday, November 6th. Needham & Company LLC decreased their target price on nLIGHT from $16.00 to $12.00 and set a “buy” rating for the company in a report on Friday, November 4th. Finally, Stifel Nicolaus began coverage on nLIGHT in a report on Friday, November 4th. They issued a “buy” rating for the company. One investment analyst has rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, nLIGHT presently has an average rating of “Buy” and an average price target of $20.75.

nLIGHT Trading Up 3.7 %

LASR stock opened at $12.02 on Friday. The stock has a market cap of $544.59 million, a P/E ratio of -13.07 and a beta of 2.22. nLIGHT, Inc. has a twelve month low of $8.22 and a twelve month high of $20.93. The company’s 50 day moving average is $10.77 and its two-hundred day moving average is $10.99.

nLIGHT (NASDAQ:LASR – Get Rating) last announced its quarterly earnings results on Thursday, November 3rd. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.05). nLIGHT had a negative return on equity of 13.16% and a negative net margin of 16.09%. The company had revenue of $60.09 million for the quarter, compared to analyst estimates of $65.04 million. On average, equities research analysts predict that nLIGHT, Inc. will post -1 earnings per share for the current year.

nLIGHT Profile

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nLIGHT, Inc develops and manufactures semiconductor and fiber lasers components. Its products include semiconductor lasers, fiber lasers and optical fibers. It operates through the following segments: Laser Products and Advanced Development. The Laser Products segment includes products such as fiber lasers, diodes, complete laser systems and components.